Shares plunged on Wall Street and the dollar fell sharply tonight after an increase in jobless claims and weak signals from industry prompted fears that the US is heading for a double-dip recession.

The Dow Jones index fell 200 points at one stage in morning trading in New York after the US labour department reported that 500,000 new claims for unemployment benefit were filed in the week ending 14 August – an increase of 12,000 on the previous week and the highest figure for nine months.

The already gloomy mood was compounded when the Philadelphia Fed, one of the Federal Reserve’s 12 regional reserve banks, published its monthly health check on manufacturing in America’s mid-Atlantic region. The survey, seen by Wall Street as a barometer of US industrial conditions, showed activity had contracted unexpectedly for the first time since July 2009.

President Barack Obama called on Congress to pass a bill providing support for small businesses, but Wall Street believes the threat to the world’s biggest economy will also require action by the Federal Reserve to expand the money supply through its quantitative easing programme. James Bullard, president of the St Louis Fed, said tonight that the central bank would need to step up its purchases of bonds should the threat of deflation intensify.

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Roy’s tiger injury

On October 3, 2003, during a show at The Mirage, Roy Horn was bitten on the neck by a seven-year-old male tiger named Montecore. Crew members separated Horn from the tiger and rushed him to the only Level I trauma center in Nevada, University Medical Center. Horn was critically injured and sustained severe blood loss. While being taken to the hospital, Horn said, according to sources, “Don’t shoot the cat!”

Horn was in critical condition for several weeks thereafter, and was said to have suffered a stroke and partial paralysis. Doctors removed one-quarter of his skull to relieve the pressure of his swelling brain during an operation known as a decompressive craniectomy. The portion of skull was placed in a pouch in Horn’s abdomen in the hope of replacing it later. Horn was eventually transferred to UCLA Medical Center in Los Angeles, California for long-term recovery and rehabilitation.

As of 2006, Horn was walking, assisted only by Fischbacher, and talking. To host Pat O’Brien on the television news program The Insider, he complained about his daily rehabilitation, “They are slave drivers over there. You’d think they are the KGB from Russia.”

It is disputed whether or not the tiger intentionally attacked Horn. Montecore had been trained by Horn since he was a cub; he had performed with the act for six years. Fischbacher, appearing on the Larry King interview program, said Horn fell during the act and Montecore was attempting to drag him to safety, as a mother tigress would pull one of her cubs by the neck. Fischbacher said Montecore had no way of knowing that Horn, unlike a tiger cub, did not have fur and thick skin covering his neck and that his neck was vulnerable to injury. Fischbacher said if Montecore had wanted to injure Horn, the tiger would have snapped his neck and shaken him back and forth.

Former Mirage owner Steve Wynn (who hired the duo in 1990) told Las Vegas television station KLAS-TV the events were substantiated as described by Fischbacher. According to Wynn, there was a woman with a “big hairdo” in the front row who, he says, “fascinated and distracted” Montecore. The woman reached out to attempt to pet the animal, and Horn jumped between the woman and the tiger.

According to Wynn, Horn said, “Release, release,” attempting to persuade Montecore to let go of his arm, and eventually striking the tiger with his microphone. Horn tripped over the cat’s paw and fell on his back; stagehands then rushed out and jumped on the cat. It was only then, said Wynn, that the confused tiger leaned over Roy and attempted to carry Horn off the stage to safety. Wynn said that although the tiger’s teeth inflicted puncture wounds that caused Horn to lose blood, there was no damage to his neck. Stagehands then sprayed Roy and Montecore with a fire extinguisher to separate the two.

Montecore was put into quarantine for ten days in order to ensure he was not rabid, and was then returned to his habitat at The Mirage. While Horn has requested that Montecore not be harmed, the incident may augur the end of exotic animal shows in which there are no barriers between tigers and audience members. Some animal rights activists, many of whom oppose the use of wild animals in live entertainment, sought to use the incident as a springboard for publicity, though few have ever accused the Siegfried & Roy show of mistreating animals.

The injury to Roy Horn prompted The Mirage to close the show indefinitely and to lay off 267 cast and crew members with one week’s severance pay. While Fischbacher has said “the show will go on”, a hotel spokesman told the production staff that they “should explore other career opportunities.”

According to the Las Vegas Advisor, The Mirage will suffer financially, not just from the loss of $50+ million in annual ticket sales, but from having to forgo untold millions in sales of food, beverages, hotel rooms and the casino’s gambling winnings. An MGM Mirage spokesman said losing Siegfried & Roy is a bigger hit to the Mirage brand than to its finances, because the entertainers are “practically the faces” of the hotel, and finding a new hotel brand or identity will be difficult.

In February 2009, the duo staged a “final” appearance with Montecore as a benefit for The Lou Ruvo Brain Institute. This performance was recorded for broadcast on ABC television’s 20/20 program.The 10-minute program featured one of Siegfried & Roy’s signature illusions, in which Siegfried and Montecore (now 12 years old) magically switched places from within separate, locked transparent enclosures.

On April 23, 2010, the duo officially said farewell to show business. “The last time we closed, we didn’t have a lot of warning,” said longtime manager Bernie Yuman. “This is farewell. This is the dot at the end of the sentence.”

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Turkish-Iran Relations: Old Rivals or New Best Friends?

Many in the West are increasingly concerned about a Turkish-Iranian alliance against the US and Israel. However the two countries, despite their increasingly closer political and economic ties, compete over the leading position in the Middle East and for the favor of the Arab masses. For the moment the competition is materializing in pro-Palestinian endeavors like the so called “freedom flotillas” and fiery speeches against Israel by Turkish Prime Minister Recep Tayyip Erdogan and Iranian President Mahmoud Ahmadinejad.

On June 29, 2010, Ankara, in a first sign of frustration, called on Iran to return “as soon as possible” to the negotiating table over a nuclear fuel swap deal. According to a senior Turkish diplomat, Turkey voted against tougher UN sanctions under the condition that Iran would engage itself in talks on its controversial nuclear program. However, on June 28, 2010 Ahmadinejad announced that any negotiations will be postponed until late August in order to “punish” Western powers. Tehran left it unclear when and if it will continue to talk with Brazil and Turkey, its two allies.

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Hamas TV forced to halt broadcasts to Europe

GAZA CITY, Gaza Strip—A France-based satellite provider is halting broadcasts of the Hamas TV channel to Europe and parts of the Arab world because of concerns that it spreads incitement, a station official said Tuesday.

The decision will deprive Gaza-based al-Aqsa TV of most of its viewers, said the channel’s head, Hazem Sharawy.

The Hamas station — best known for its children’s programs glorifying violence against Israel — is the centerpiece of a growing media operation of Gaza’s Islamic militant Hamas rulers. Losing the satellite provider will hamper the group’s attempts to spread its message and raise funds abroad.

The decision to cut off the Hamas station came six years after a similar move by France and the U.S. against al-Manar, the channel of Lebanese guerrilla group Hezbollah.

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Earnings reports could spark summertime market rally

TORONTO — Investors could find a reason to extend last week’s strong advance on North American stock markets if U.S. second-quarter corporate earnings, the first of which are expected Monday, live up to high expectations.

“If we can get some confirmation from the earnings and then the stocks rally on that, it will be a very good sign that we’ll have a decent summer,” said Blair Falconer, portfolio manager at HSBC Securities.

North American markets finished higher last week, with the TSX up 3.34 per cent and the Dow industrials ahead 5.28 per cent as bargain hunters moved in following big slides of over four per cent the previous week.

Projected profits rise as stocks fall

NEW YORK — Analysts are raising earnings estimates for U. S. companies at the fastest rate since at least 2004 during a quarter when stocks have posted some of their biggest losses in 16 months on concern that the economy will sink back into a recession.

Profit for companies in the Standard & Poor’s 500 Index now are expected to jump 34 percent this year, according to more than 8,000 estimates compiled by Bloomberg. On March 29, the projected increase had been 27 percent. The revision is the greatest during any quarter in at least six years.

But lower-than-forecast home sales, manufacturing and private-sector job growth have sent the benchmark gauge for U. S. equities down 11 percent since hitting 1,217 April 23, despite last week’s rally.

Qassam hits building in southern community

A Qassam rocket landed near a building in one of the communities in the Sdot Negev Regional Council early Wednesday, causing damage to a packing-house. There were no reports of injuries.

Avi Aptelboim, head of the community’s emergency squad, reported that “a Color Red siren was sounded at around 4 am, followed by a rocket which landed inside the community, near the packing-house. The packing-house sustained heavy damage and it won’t be operated today. There were no injuries, thank God.”

“The rocket landed right next to the packing-house.
The equipment near the packing-house was damaged, and the building itself sustained damage from shrapnel,” said one of the residents.